CO129-346 - Governor Sir Lugard - 1908 [1-3] — Page 201

OP Y.

198

Shanghai, 27th.November, 1907.

94 ut caerland ob con aggh et saiteos/ estas nae

borreo

ani ang sal** to tea and Syed ve, d2 and

Sale at det durah &

.benne erre nt date for of $

0 on bura

*

J. A. Wattie, Esq.,

nl

marido quakter,benotzner sba[3 2/

Managing Director,

China Mutual Life Insurance Company.

Sud

he'd nogn besosq od nen skalollino

SIREN ter sta ovode movie angrth

dasd add wruget et moreultai ”e unter to tosife erð Mile tartar

(8)

val Idieseg

Dear Sir,

I am in receipt of your favour of 13th.

instant asking me for a report upon the new Hongkong Ordinance

relating to Life Insurance Companies entitled "The Insurance

Companies Ordinance, 1906".

To consider the subject properly it seoma

事

to me that the question divides itself under two headings:

1st. The advisability or desirability of stringent Govern-

-ment Supervision in the case of Life Insurance

Companies.

2nd. Assuming the desirability of some such supervision

the consideration of the question how far the present

Ordinance meets the case and what objections there are

to it in its present form.

To discuss the question under the first

heading thoroughly would occupy considerably more time than I

have at my disposal and probably in view of the fact that the

Ordinance has already become law the benefits derived from the

discussion would be incommensurate with the labour involved.

I think it as well however to point out

briefly a few of the chief points in connection therewith.

Every British Actuary is strongly of opinion that the less Insurance Companies are interfered with by legislation the better, provided they are compelled to give the fullest publici-

-ty to their methods and the conduct of their business; and

this has been the practice with regard to British Insurance Companies for the past 30 years, and it must be conceded that the history of Life Insurance in Great Britain during that

period